IRVINE, Calif. — Consumer Portfolio Services announced late
last week it entered into a new $20 million, five-year residual financing
facility.

CPS officials explained the facility is secured by eligible
residual interests in two previously securitized pools of automobile
receivables.

With a portion of the proceeds, the company said it prepaid
$15 million of its senior secured debt.

CPS also indicated that it plans to report its first-quarter
performance and financial statement on Wednesday. The company is coming off of
a stretch where it originated $150.8 million of new contracts in the fourth
quarter alone, approaching a pace CPS enjoyed back six years ago.

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